Home / Knowledge / News / Apparel/Garments / India an attractive retail destination: Economic Survey
India an attractive retail destination: Economic Survey
02
Mar '15
Owing to its large population and rising disposable incomes, India continues to be an attractive long-term retail destination, says the Economic Survey 2014-15.
 
Citing AT Kearney’s Global Retail Development Index (GRDI), the government document said India’s retail trade ranking slipped further to twentieth in 2014 from fourteenth in 2013. “The retail sector was affected in 2013 by high consumer price inflation, currency fluctuations, and strict FDI policies,” it said.
 
“However, India remains an attractive long-term retail destination for several reasons, including its large population, 58.3 per cent of which is below 30 years and 31.1 per cent of which lives in urban areas with rising disposable incomes,” states the Economic Survey 2014-15, tabled in Parliament by finance minister Arun Jaitley, a day before the general Budget was presented.
 
According to the survey, although migration from traditional stores to modern retail is continuing, the latter accounts for only 8 per cent of the total market.
 
The survey expects India’s ecommerce market to grow by more than 50 per cent in the next five years. However, it points out inventory management, logistics planning, and resource availability as important hurdles for online retail in India.
 
Stating that consumer safeguard is another area of concerns for ecommerce consumers, the survey says the government proposes including sufficient provisions in the ongoing amendment to the Consumer Protection Act 1986. (RKS)
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search